Lehman Trustee Settles With Japanese Units

Law360, New York (January 27, 2014, 7:53 PM ET) -- The trustee liquidating Lehman Brothers Inc. has reached a deal to settle more than $500 million in claims brought by Lehman’s Japanese units, he said Friday.

LBI trustee James Giddens and several Japanese Lehman subsidiaries have reached a proposed accord that resolve competing claims stemming from the historic 2008 Lehman bankruptcy, Giddens said in a filing with Manhattan’s bankruptcy court seeking approval for the deal. The deal requires a U.S. bankruptcy court judge’s okay.

LBI was Lehman Brothers Holdings Inc.’s brokerage. Lehman’s Japanese entities had asserted...
To view the full article, register now.